Regulatory Alerts2025-03-07 | 07/03/2025Notification of Signed Statement of Commitment to the Nigeria Foreign Exchange Code by the CBN
The Central Bank of Nigeria (CBN) has officially committed to the Nigerian Foreign Exchange (FX) Code. This commitment, signed by key figures including the Governor, Deputy Governor of Economic Policy, and Director of Financial Markets, ensures that the CBN will regulate FX Market activities in line with the principles of the code. The CBN has taken appropriate steps to align its roles with the code's principles, considering the size and complexity of the FX Market.
Attached herewith is the Statement of Commitment to the Nigerian Foreign Exchange (FX) Code by the Central Bank of Nigeria (CBN), signed by the Governor, Central Bank of Nigeria; Deputy Governor, Economic Policy Directorate; and the Director, Financial Markets Department.
Omolara O. Duke (Ph.D) Director, Financial Markets Department.
STATEMENT OF COMMITMENT TO THE NIGERIAN FX CODE CENTRAL BANK OF NIGERIA The Central Bank of Nigeria has reviewed FX Global Code and acknowledges that the Code represents a set of principles generally recognised as good practice in the foreign exchange market ("FX Market"). The Bank confirms that it acts as a regulator to Market Participant as defined by the Code and it is committed to regulate FX Market activities in a manner consistent with the principles of the Code. To this end, the Bank has taken appropriate steps, based on the size and complexity of the FX Market, and therefore align its roles with the principles of the Code. Governor, Central Bank of Nigeria Name: OLAYEMI CARDOW Curay Signature: Date: 28185. Deputy Governor, Economic Policy Name: MA Signature: Date: 28.1.25 Director, Financial Markets Department PW-D. Name: Omolara Motunde Dolle Signature: Date: 28:01:25